Demars Financial Group LLC Sells 45,425 Shares of Amcor PLC $AMCR

Demars Financial Group LLC lowered its stake in Amcor PLC (NYSE:AMCR) by 77.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 13,076 shares of the company’s stock after selling 45,425 shares during the quarter. Demars Financial Group LLC’s holdings in Amcor were worth $520,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AMCR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Amcor by 8.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock valued at $2,596,000 after acquiring an additional 20,757 shares during the last quarter. Focus Partners Wealth raised its stake in shares of Amcor by 11.3% in the 1st quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock valued at $418,000 after acquiring an additional 4,396 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Amcor in the 2nd quarter worth approximately $138,000. Arrowstreet Capital Limited Partnership acquired a new stake in Amcor in the 2nd quarter worth approximately $6,426,000. Finally, CW Advisors LLC bought a new stake in Amcor during the second quarter worth approximately $228,000. Institutional investors own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

AMCR has been the topic of several analyst reports. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wells Fargo & Company set a $41.00 price objective on shares of Amcor and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. Citigroup decreased their price objective on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a report on Friday, May 8th. Truist Financial reiterated a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Amcor presently has an average rating of “Moderate Buy” and an average target price of $48.00.

Amcor Price Performance

Shares of NYSE:AMCR opened at $41.91 on Thursday. The business has a 50 day moving average price of $40.01 and a 200 day moving average price of $42.09. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94. The company has a market cap of $19.38 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 1.25 and a beta of 0.62. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting the consensus estimate of $0.96. The company had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company’s revenue for the quarter was up 77.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 EPS. Research analysts predict that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were paid a $0.65 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 6.2%. Amcor’s dividend payout ratio (DPR) is presently 181.82%.

Amcor Company Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.